Admissibility of MODVAT/CENVAT credit on inputs used in the manufacture of finished goods on which duty has been remitted.

Admissibility of MODVAT/CENVAT credit on inputs used in the manufacture of finished goods on which duty has been remitted. https://www.taxtmi.com/circulars?id=449 Cenvat/MODVAT credit on duty paid inputs contained in finished products for which duty remission has been granted is admissible and need not be reversed; however, where remission is claimed for destroyed or damaged goods, authorities must ensure the insurance or recovery does not include the duty element attributable to inputs taken as credit. en-us Wed, 07 Aug 2002 00:00:00 +0530 Tue, 23 Sep 2008 16:55:00 +0530 TaxTMI RSS Generator Admissibility of MODVAT/CENVAT credit on inputs used in the manufacture of finished goods on which duty has been remitted. https://www.taxtmi.com/circulars?id=449 Cenvat/MODVAT credit on duty paid inputs contained in finished products for which duty remission has been granted is admissible and need not be reversed; however, where remission is claimed for destroyed or damaged goods, authorities must ensure the insurance or recovery does not include the duty element attributable to inputs taken as credit. Circulars Central Excise Wed, 07 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=449